Extended its corrective pullback, away from...>

CABLE: Extended its corrective pullback, away from its recently posted

post-Brexit high of $1.4377(Apr17), through Monday's trade as rate felt the

pressure from UST yields. Reported cable longs were already seen under pressure

following last week's release of disappointing UK data, added too by comments

from BOE Governor Carney, which prompted traders to pare back bets for a May

hike. Cable traded to a low in NY of $1.3926 with early Asia extending this move

to $1.3918 before UST yields eased which allowed some relief. Cable recovered

but was seen meeting resistance into $1.3950. However, rate is pressing on this

level at writing. A break to open a move toward broken support at $1.3966, with

the NY high of $1.3977 lurking behind. Support remains at the Asian low with

further demand noted into $1.3900/1.3890. UK Public Sector Borrowing data due at

0830GMT, not usually a market mover but as it covers the last month of the tax

year it should provide more interest(2017-18 fiscal deficit). CBI Trends data

due at 1000GMT.